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<br />
<br />DEED OF TRUST ,WITH FUTURE ADVANCES
<br />
<br />THIS fJERfJ OF TRUST, is made as of the 29th day or :l1'ebruary . 2008
<br />amung tht: Trustor, PIC ))~vclopmcnt of Grand Island. LLC Il Nebraska Limited Lblbillty Company
<br />
<br />, by and
<br />
<br />wholiemailingaddress is 443 N. 48th St. Slt3 Lincoln, NE 685U4
<br />(herein "Trustor", whether one or more)., the TrlUi(ee, West Gale Bank
<br />whosemailingaddrcssis60030ldChenevLlncoln.NE ~85l6. .._....._._....__.
<br />(herein "Trustet:"), and the Beneficiary, West Gate Bank
<br />whosemailingaddressis6oo30IdCherleyLim~oJn.NE 68516
<br />(herein "Lender"). - '...-.
<br />
<br />FOR VA.LUABLE CONSIDERATION. including Lender's extension of credit identified herein to
<br />FIe Development of Grand Island, L~~,
<br />
<br />-"... _J
<br />(hereln "Borrower''. whether one or morc) and the trustherein CftlUted. the receipt of which is hereby acknowledged.
<br />Truslor hen~by irrevocably gt'ftnt5, transfers. ConVeyli and a.~lligns to Trustee, IN TRUST, WITH POWER OF SAJ ,E,
<br />for the be1,efit and security of Lender. under Wld subject to the terms and oonditioDH hereinafter set forth, the 1'eal
<br />property. described as CI)J1ows;
<br />
<br />1.ot Three (3), KallH.r SubdMsioll,ln the City of Grand Island, HaD County, Nebraska
<br />AKA: 1904 Aspen Circle Grand Island, NE 68803
<br />
<br />I
<br />
<br />Together with all buildings, improvemenls, fixtures, streets. alleys, passageways, easements, rights,
<br />privileges and appurlanllncl.'S located thereon or in anywise pertaining thereto. and the rents, issues and profil!\,
<br />fevel'sion5 aud remainderlt tht:reu~ IUld such personal properLy that is attached to the im[lrovements so as to constitute
<br />a fixture, including, but not limited LO, heating and cooling equipment; and together with the homestead or marital
<br />interests, jf l:lIl)'. which interests are hereby released and waived; all of which. including rcpla~ents and additions
<br />thc:reto, is hereby decle.rcd to be a part of the real eIIwtc securccl by the lien of this Deed of TrWlt and all of th c
<br />furegoing being refClTcd to herein as the "Property",
<br />
<br />This Deed of Trust shullllecure (a) the payment ofthe prin.cipaJ sum and interest evidenced by a Promissory
<br />Note(s) or Credit Agreement dated February 29th __, 2008 . in the (lri~intll principal ilnlO\lllt of
<br />$936,000.00 , and any and all modifications, extensious and renewals thereof or iliereto and any and all future
<br />advances and l'eadvances to Borrower (or l:ll1y of them if JUore than one) hereWlder pursua.nt to 011e or more
<br />Promissory Notes or Credit Agreementli (herein called "Note"); (b) the payments of other sums advanced by I.ender
<br />to protect the sel-"UCity of the NOLe; (c) the performance of all covenants and agl'eements of Trustor :;t:t forth herein;
<br />and (d) all present and filture jndebledn~s and obligations ofB01'fowor (or any of them iflllore tl18.11 one) tu Lender
<br />whether direct, indirect, absolute or continGent and whtllher arising by Noto, (juaranty, overdraft or oUlerwil:ie. Upon
<br />request of Borrower, Lender may, at its opLion, make additional and tl1ture advances and readvanccs to Borrower.
<br />Such optional advances and n:advances. with interest thereon, shall be secured by this Deed of Trust. At no time
<br />shall the principal amount of such optional future advances, not including sums adVlUlCed to Pt'otcct the security of
<br />this Deed of Trust or other indebtedness secured by thJs Deed of Tlust, exceed the amount of$lt"7~.OOO.OO . _
<br />The Note. this Deed of Trust and ~Il1Y and all other documents that secure the Note or otherwise executed in
<br />connection therewith. including withoutHmitation Guarantees, SecW'ity Agreements and J\ssigmnents ofLeaseli and
<br />Rents. shall be referred to hereinaslhe "Lonn InstrumentsM. -
<br />
<br />Trustor covcnaots and agrees with Lender u.s follows: ,
<br />1. Ppymt!nt of Indt:btt:dncslj. All indebtedness secured hereby shall be paId when due.
<br />
<br />2. Title. Truslor ill lhe owner of the Property, hall the right and authority to convey thc Property, Wid
<br />warrlUlts that the lien crtmted ht;roby is u first Wld prior lien on the Property, except for liens and enoumbrances set
<br />furili by Trustor in writing and delivered to Lender before execution of thi:<l Deed of Trust.. and Ihl: t:xeculiun lUld
<br />delivery of this Deed ofTrmrt doc!! not violatc any contract 01' OthOI: obligation to whieh Trustor is subject.
<br />
<br />.AI09.CV (10107)
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